Mela devalues over 90% during a great bull run in the market and now that the market is correcting [ devaluing ] MELA is posting gains on no news, change in outlook, etc.etc................
Having read it, mela agreed in july [ old business ] to conv. pref. stock sale with a 4% div and issue warrants etc. and pledged all intellectual property. pref. holders get 4% with poss. upside [ warrants, poss appreciation, etc. ] AND INTELLECTUAL PROPERTY / PATENTS if failure to comply with conditions.. SEC filing needed to be completed by 10/19 or default. Management cutting a little close if you ask me, supporting my distrust/lack of confidence.
Reading between the lines MELA seems to admit that the time line for revenue generation is years out and they will/are going to need to raise more money within year or so with revenue generation 18 months to 2 years at best. And that was last July.
FDA final approval is still 2018 if all ongoing conditions are met. MELA is a highly speculative play and not an investment and should be treated as such until such time that management can prove a sustainable , profitable revenue generating business.
Regarding any remaining major fund, its not even pocket change.IMO
You stated what is wrong with the past/present management teams quite accurately . There were no business people ,CFO, BOARD, ETC. from the beginning to set up the company correctly. IE: ins.coding &reimbursement understanding on revenue and timeline , prototypes in field during FDA process, funding to insure and protect company during incubation period, a realistic business plan [ revenue generation ], one could go on and on. I have stated from the beginning that any Grad. Business school candidate would have set up and run company better.
As far as covanants in present funding we have already experienced the effects [ dilution ] with more to come I expect. I have stated before that IMO the present management team was picked by the financiers and will eventually delivery the patents to them at the expense of present shareholders, an event I would like to be proven wrong about.
Having read thru previous SEC filings I believe all intellectual property is pledged which is why take over / merger activity might be stymied.
With all these obstacles the technology,[ less invasive, no cutting, potentially less expensive, convenience, less pain & suffering, time, human error, etc.etc.] is so compelling and needed.
But it was the question I asked. You bring up points that are valid but off topic. One knows there are usually more than one way to solve a problem, and the less invasive the better, the device will be in the arsenal of medical people now and in the future. Melanoma is a major problem and the more weapons that can be bought to bear on containing and removing it the better. Major research institutes are/will be picking up the ball that management is fumbling/giving away, once again IMO.
As a large stockholder in MO AND PM for many years your point on political correctness was understood when I wore a younger mans clothes, I admit it bought a smile to my face,thx.
I do not agree with the ' house of cards' analogy but understand the concept of imploding, one doesn't need to be a weatherman to know which way the wind blows. Management had in the past, and might still have, the ability to create a viable market for device, which there is a definite place for in the medical field, IMO. The problem has been and continues to be the inept ability to understand how business works by the current and past management teams, once again in my opinion. Your call has been spot on as to price , etc. but do you really doubt the future of the device and technology?
My past experience is that meeting notice date is 90-180 days from receipt of approval to meet. Approval/rejection, timeframe, TBD ? Will Insurance companies even start to consider reimbursement before codes are granted? Management never seems to give shareholders a timeline, projection, estimate that one can rely/plan on [ cash flow, request dates, etc. ]. I know the 2 year estimate, that was awhile ago and is beginning to fade, along with Op. cash
Contrary to others I'm not concerned about acceptance of device by the medical field , I know who has it and what it can do. The problem is still management, information, and/or lack thereof, IMO. Time keeps moving and cash keeps burning...........................
I like it, thx. When a stock trades out of whack for an extended period I try to find out why. Here is one I think you will appreciate.
THE ONLY GOOD IS KNOWLEDGE AND THE ONLY EVIL IS IGNORANCE......SOCRATES
Here is to $1 by years end..............................
I know management has stated that they have started to seek insurance reimbursement procedures. Have they given a date/timeline for CPT code meeting ? Which would be needed before insurance companies would consider reimbursement if I understand the procedure correctly. How long does it take to get a meeting , date, or what ever is needed ? If you apply for a meeting shouldn't a reply be in order? Management stated months ago the clock started.
get out in front and state what's been going on over the last month or so since we last heard anything. The stock price has tumbled from .70 I know small caps have taken a hit but not like this company has. The company is trading at a discount to its market / enterprise value and has been for awhile now. With the ACA 2015 provisions less than 3 months out and managements projections, from last year, I would have thought we would have seen more action , sales/contracts ,in the Aug-Sept period. Even at present the stock price should be .75-.95 at standard valuations, IMO. With an average cost basis in the high .30's and the recent roller coast ride, time to begin to examine management a little more carefully.
Any insights , opinions ?
After CPT issuance do the insurance companies then approve or reject reimbursement or does the CPT code allow for reimbursement from all insurance companies ? Not aware of procedure. Thx for any insight.
seems very good for company and shareholders, IMO, considering that TRXC is still in it's infancy. If I'm reading the agreement correctly TRXC agrees not to issue stock [ no dilution ] for loan term, warrants for 3.5% of monies borrowed up to loan max [ equals $875k @ present stock price, aprox 210k shares ], 7.5% interest, etc. ..Seems management and lenders confident of approvals and immediate sales acceptance and revenue generation. All of which they seem to be projecting over the coming 18 months.
I agree with your opinion regarding potential size of market. When do you think insurance coding and reimbursement happens ? I have seen 6-24 month windows from FDA approvals in the past. I believe insurance reimbursement is critical for serious revenue generation, your opinion on timeline?
I will respond with the following, you are totally wrong, at the present time the device is being used by most if not all of the major institutions in the nation and the technology is accepted. The problem is currently that one method of diagnostics is accepted for insurance coverage and one is not. If you can't see the changing technologies in the medical field away from invasive ones to non invasive ones I do not have the time nor patience to continue to explain it to you. you have your opinion and I mine. GL
discuss when OPKO will start to generate revenues in any meaningful way? Its hard to see how the stock price can grow from its present state without revenue growth, IMO. Long, short positions, pipelines, opinions, etcetera, are important but how can OPKO's stock value grow from here without revenue, irregardless of how much stock Dr. Frost buys or controls. FDA approvals, Insurance coding and acceptance timelines seem to still be a year or two out and should be of concern in my opinion. Does anyone have info regarding these items? I have been doing some DD and still have questions.
Guys, seriously put to rest the fact I'm a serious investor with a serious question. I pose the question because I believe that it is the intent of the present management team to allow the current financiers of MELA to take control of the company via covenants and provisions in the current terms of financing, etc. that currently exist. I think they already exert control over management by suppling just enough revenue to keep company alive while creating a timeline line that insures their continue need with ever increasing control of companies finances and stock.
It is hard to see any other outcome based on managements actions to date, IMO.